The Producer Price Index for final demand increased 0.3% in January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices declined 0.1% in December 2023 and advanced 0.1% in November.
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On an unadjusted basis, the index for final demand rose 0.9% for the 12 months ended January 2024.
In January, the advance in the index for final demand can be traced to a 0.6% rise in prices for final demand services. In contrast, the index for final demand goods decreased 0.2%.
The index for final demand less foods, energy and trade services rose 0.6% in January 2024, the largest advance since moving up 0.6% in January 2023. For the 12 months ended January 2024, prices for final demand less foods, energy, and trade services increased 2.6%.
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